Saudi Arabia will manage construction capacity

Significance

The move aims to strengthen the construction sector’s capacity to deliver building and infrastructure projects under the country’s economic modernisation plan, Vision 2030. This would also equip firms to forge partnerships with international contractors.

Impacts

• The PIF will likely invest elsewhere in the construction supply chain, including in building materials.
• The government will seek digital and technological solutions that help expedite project design and implementation.
• The construction sector will be a source of foreign direct investment as international firms establish in-kingdom operations.
• Young Saudis may pursue engineering degrees in higher numbers, attracted by job prospects in the construction sector.